Gold-Silver Rate Today: Today gold prices fell and silver also slipped by more than Rs 2800, know today’s latest price.

Gold-Silver Rate Today In India: Today there has been a big fall in the prices of gold and silver in the Indian futures market i.e. MCX. Investors are eagerly waiting for the minutes of the June policy meeting of the US Federal Reserve. These minutes are expected to provide major clues about the direction of the central bank’s monetary policy and interest rates. For this reason, huge fluctuations in the market and a downward trend in the prices of gold and silver are clearly visible since this morning.

Most experts believe that the Fed will raise its interest rates at least once this year because inflation is above 2%. Weaker than expected payroll data for June has largely tempered expectations of aggressive monetary tightening this year. Apart from this, news of missile attack by Iran on merchant ships in the Strait of Hormuz has also increased geopolitical concerns. The direct impact of all these global reasons is being seen today on the prices of gold and silver in the Indian bullion market.

latest gold price

Today, the August gold contract on the domestic futures market MCX opened with a fall of 0.52 percent i.e. Rs 767. After this fall, now the latest price of 10 grams of gold has come to the level of Rs 1,46,148, due to which investors are worried. According to market experts, currently a very important support level of Rs 1,46,100 and Rs 1,45,500 remains for gold. If this support breaks, then some more slight decline in the price of 10 grams of gold may be seen in the coming days.

new price of silver

Along with gold, today September silver futures also fell by 1.14 percent, which is a big fall of Rs 2,859. After this huge fall, the new price of 1 kg silver on MCX has now reached the level of Rs 2,33,416 per kg. According to commodity market experts, strong support levels of Rs 2,33,300 and Rs 2,30,000 are currently present in the market for silver. On the upside, silver is continuously facing tough resistance at the levels of Rs 2,38,800 and Rs 2,41,000.

Effect of gold price in big cities

This huge fall on MCX will have a direct impact on the markets of big cities like the country’s capital Delhi, Mumbai, Chennai and Kolkata. Whenever gold and silver prices fall in the futures market, the prices also come down in the local bullion markets of these major cities. Today, looking at the trends of MCX, changes in the prices of gold and silver are clearly visible in the retail markets of Delhi and Mumbai. Investors are keeping a close eye on these latest and reduced prices of MCX before making purchases in their city market.

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Experts’ opinion and market direction

Master Capital Services official Ravi Singh says that the technical framework is still strong and prices are above the support of Rs 1,40,500. Immediate resistance lies at Rs 1,48,000 and a breakout above this level could easily lead recovery to Rs 1,50,000 to Rs 1,51,000 zone. According to Manoj Kumar Jain of Prithvifinmart, internationally, gold has got strong support at $4,135 and $4,100. Experts believe that the next big directional move of gold and silver will be completely decided only after the Fed’s minutes are released.